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Net Worth Update

2/8/2014

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Picture
Assets: $1,141,239
Real Estate - $853,000
Retirement accounts - $197,908
Brokerage - $64,996
Cash equivalence - $20,982
Other - $4,353

Liabilities: $414,570
Real Estate Mortgages - $414,570

Net Worth:  $726,669

My net worth dropped by about $1,000 which happened mostly on the last day of the month due to the stock market drop.  I also had some large expenses that took place in July.  I had a large insurance bill for a rental and also a large down payment on a medical bill.  I put all of this on credit cards, but the bills came due.  

I have a feeling that we could be in for a strong correction in the stock market.  Somewhere in the 10-20% range.  This could drop my net worth by over $50k, but that's how the stock market works.  I don't think this will be the big one where it drops over 50%.  That'll probably happen in the next 4 years or so, but regardless I can't make up for a $50k drop in my net worth.  I could maybe break even after saving for a year, but not over the span of a few months.  Only time will tell! 
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    This website was created due to the atrociously misguided financial advice that I've heard over the decades.  Financial freedom is not intellectually strenuous, but it takes discipline. 

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